Paramedical exams and related laboratory testing are vital pieces of the underwriting process when issuing policies to life insurance applicants. Inaccurate or incomplete data about an applicant could place him or her in the wrong risk pool, skewing their rating. Alternatively, the mistake can be an overlooked medical condition, leaving an insurance company exposed to claims that can cost thousands or hundreds of thousands of dollars.

3-Quality-errorsInsurers will always deal with accidents and other anomalies that actuaries can figure in their results, but they need accuracy in the basic information they gather about their applicants. These three common quality errors can have a significant impact on underwriting decisions.

  1. Specimen quality – Delayed centrifugation can cause low glucose values and mildly elevated creatinines. Exposure to heat prior to specimen centrifugation has the greatest effect on specimen quality. We recommend that centrifugation occur within a few hours for optimum serum quality and that specimens are kept cool during transportation. Note: in-center exams eliminate this error completely since specimens are centrifuged immediately.
  2. Incorrect physical measurements – When an applicant’s blood pressure reading is taken incorrectly, or height and weight are not collected properly, underwriters are unable to make precise decisions. This can cause problems for both the insurer and the applicant by delaying policy issue or influencing an incorrect risk rating. Our Examiner App on the iPad has significantly decreased interpretation errors of measurements collected during the paramedical exam.
  3. Incomplete medical history – The medical interview is an extremely important part of the paramedical exam process, giving the carrier an opportunity to assess the level of health of each applicant. Missing information often requires a followup call or appointment with an applicant, which can negatively impact his or her overall experience of the life insurance process. Our health history collection method on the iPad and through our call center helps our examiners provide a thorough paramedical exam.

As a service provider to insurance companies, we want our clients to be confident with the results they receive so they can be confident in their underwriting decisions. Errors cause serious implications for insurers, producers (agents and brokers), and their clients. An inaccurate result can jeopardize the relationship between a producer and a client. A broker, who has a choice of insurers to work with, may opt not to use insurers that have unreliable underwriting.

Choosing ExamOne for exams and laboratory testing means choosing quality. We’re committed to our clients and your applicants, and implement a number of practices and programs to ensure we operate with consistent accuracy.

To learn more about ExamOne’s quality monitoring programs, contact our Quality Department.

Our Paperless Process

by ExamOne on April 21, 2016

docusign_updated_4-29

Medical Laboratory Professionals Week

April 18, 2016 #Committed2 You

At Quest Diagnostics and ExamOne, we perform and interpret millions of lab tests each year. We know behind every test is an individual awaiting results plus a dedicated employee making sure that test is processed quickly and properly. This year these dedicated employees are recognized during Medical Laboratory Professionals Week (MLPW), April 24-30. “Our lab employees are […]

Read the full article →

Stress Awareness Month

April 11, 2016 Uncategorized

April is Stress Awareness Month, and we have all experienced stress in some form or another. Stress takes a toll on our minds, our bodies and even our relationships with others. This month, we’re reminded of the importance of managing stress to lead healthier, more fulfilling lives. Signs of stress Your mind and body are […]

Read the full article →

Committed To Protecting My Family

March 28, 2016 #Committed2 You

The moment I found out my husband and I were expecting, I was overrun with so many emotions. After all the celebrating and excitement, the fear started to creep in. I don’t know how to be a mom. How do I raise a child that doesn’t have four legs? Those children have been easy. Make […]

Read the full article →

ExamOne Partners with ExamFX to Offer Expanded Resources for Producers

March 24, 2016 Producers

Partnership to Offer Special Pricing to Producers for Licensing Exam Preparation and Continuing Education Courses ExamOne, a Quest Diagnostics Company and the nation’s leading provider of risk assessment services to the life insurance industry, is partnering with ExamFX to provide special pricing on licensing exam prep and continuing education to the life insurance industry. ExamFX […]

Read the full article →

After more than a decade of decline, Center for Disease Control finds heart failure-related deaths increasing in the U.S.

March 15, 2016 Uncategorized

Heart failure continues to be a major public health problem in the United States, leading to significant morbidity and mortality. The Center for Disease Control (CDC) has found that the age-adjusted rate for heart failure-related deaths has actually increased from 2012 through 2014. This disease increase can cause an increased burden to both the individuals […]

Read the full article →

Recognizing our employees’ commitments

March 10, 2016 #Committed2 You

At ExamOne, we’re preparing to celebrate Commitment Week March 7-11. To kick it off, we are proud to highlight some of our employees who have gone above and beyond with their commitment to our clients, applicants, peers and industry. Our 2015 ExamOne National Customer Service Representative of the Year is Cheryl Berg. Cheryl was recently recognized at ExamOne’s […]

Read the full article →

Is 100 the new 50?

February 29, 2016 Carriers

Have we found the secret to living longer? Maybe not, but life expectancy is on the rise. In less than a century, more years were added to life expectancy than all years added across all prior millennia of evolution combined.* Today, there are an estimated 35 million Americans age 65 and older, and over the next […]

Read the full article →

Committed to our current and future employees

February 25, 2016 #Committed2 You

During the inaugural Insurance Careers Month, the life insurance industry is bringing a special spotlight onto the emerging talent crisis in the industry. According to InsuraceCareersTrifecta.org, “25% of insurance professionals are expected to retire in three years, and 400,000 positions are projected to be unfilled by 2020. Less than 5% of Millennials express interest in […]

Read the full article →